An insurance policy is a major tool for safeguarding your family financially against early death, health emergencies, and the protection of property. Additionally, it is used to secure future goals such as retirement in addition to children’s education and marriage.
Concealing health conditions will come to haunt you later
Whatever be the necessity for which an insurance policy is bought, the moment of truth reaches the time of claims. The most important document which is referred to at the time of making a claim can be the proposal form that is done when applying for the insurance policy. Often, we simply sign the document and leave it to the agent to complete the details. The agent, not being aware of the health conditions and other important information, tends to fill it predicated on the best of his knowledge. This may cause the omission of key information.
The proposal form is the basis of all insurance contracts and is a section of the agreement between the insurer and the insured.